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4.6
Great for beginners, simple to set up and get started
Competitive, industry-leading commissions
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eToro offers real assets only, no CFD products. eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation.

eToro review Australia 2024

Investing options: 4.5

Platforms & usability: 4.7

Products, markets, & assets: 4.9

Safety & reliability: 4.8

Deposits & withdrawals: 4.4

Research & analysis tools: 4.1

Fees & costs: 4.8

Education & learning resources: 4.8

eToro review Australia Summary

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Updated: Apr 23, 2024
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23 min read
One of the biggest online brokers in the world, eToro allows millions of Australian users to trade a range of assets, CFDs, and ETFs. Use our eToro Australia review to find out if it’s the right broker for you.

The details and statistics provided in this eToro broker review do not apply to US customers, where there are likely to be differences to eToro services due to regulation of jurisdiction.  The details provided may not apply to Spanish customers, as eToro does not permit CFD trading in Spain.

Our opinion of eToro

eToro is one of the best online trading platforms we’ve reviewed. It’s the ideal place to get started if you’re new to investing – features like ‘Copy Portfolios’ and its free demo account are way ahead of the competition – while eToro’s low trading fees offer something for everyone.

This eToro Australia review focuses on the needs of Australian investors, allowing you to compare eToro’s features with any other broker that you’re interested in. Get the lowdown on the available Australian markets, its security and safety, and the fees you might be charged for using the service in Australia. In short, find out everything you need to know about before signing up and using eToro from Australia.

eToro highlights

Features eToro summary
No. of tradable assets 3600+
Min. Deposit $100
ID verification required Yes
Free demo account Yes
Supported assets Stock CFDs, ETF CFDs, Forex CFDs, Crypto CFDs, Index CFDs, Commodity CFDs, NFTs
Mobile trading app Yes
Web trading platform Yes
Regulatory bodies ASIC, FCA, CySEC, FinCEN
View more > eToro >

Pros & Cons

Pros:

Great for beginners, simple to set up and get started
Competitive, industry-leading commissions
Popular ‘Copy Portfolios’ function lets you follow top traders
Excellent customer service, with live chat support provided

Cons:

Can I open an account with eToro?

Investing options
4.5

What can I do with eToro?

The platform’s primary focus is on providing investing and copy-trading services. eToro is an innovative trading platform and currently the largest social trading platform in the world, with more than 13 million registered users making millions of trades each day. It also supports mobile-based trading along with a wide assortment of features and free educational materials.

eToro was founded in 2007 with the bold ambition of “disrupting the world of trading”. Since that time it has launched the first social trading platform in 2010, and CopyPortfolios, which are managed portfolios that bundle top eToro traders or various assets under a single market investment strategy. This means you can use the broker to make your own trades, and also to follow those of others.

It’s an online broker that offers both one of the best stock trading platforms and powerful stock trading apps. Through both of these, eToro customers in Australia can access six distinct asset classes and a couple of thousand instruments with each, as well as zero commission trades on certain stocks.

What accounts does eToro offer?

eToro is primarily a social trading platform but it also allows you to store and earn on your crypto holdings as well. Here are all the available account types:

Account type eToro accounts Plus500 accounts Eightcap accounts
Trading platform Yes Yes Yes
Crypto staking Yes No No
Crypto wallet Yes No No
Money management Yes Yes Yes
Spread betting broker No No No
View more > eToro > Plus500 > Eightcap >

Available features in your jurisdiction may be different

eToro also has a sliding scale of membership which is known as the eToro Club. You are automatically assigned into an account tier based on the amount of money you have in your cash balance plus the value of your investments.

All members are automatically assigned to the Bronze tier, which is the standard account. All tiers above that offer additional benefits, such as lower fees, live webinars, premium subscriptions, and exclusive VIP events.

Account tier Qualifying balance
Bronze $0
Silver $5,000
Gold $10,000
Platinum $25,000
Platinum+ $50,000
Diamond $250,000
View more > eToro >

Finally, there is an eToro Money account, which is an e-wallet app where you can make payments or send and receive money from your friends. eToro Money is like a basic version of PayPal. The main selling point is that you can deposit and withdraw money from your eToro trading account faster and with fewer fees if you transfer with the eToro Money app.

Products, markets & assets
4.9

What products and assets can you trade on eToro in Australia?

The eToro trading platform offers more than 5,000 assets, covering both major and minor forex pairs, ETF trading, shares from every major stock exchange, indices, commodities, and cryptocurrencies. Here’s a summary of all of eToro’s trading options:

Product eToro assets Plus500 assets Eightcap assets
Stock CFDs 3117 1,800+ 600+
ETF CFDs 317 100+
Forex CFDs 49 50+ 40+
Crypto CFDs 73 40+ 250+
Index CFDs 20 20+ 10
Commodity CFDs 26 20+ 4
NFTs 100,000
View more > eToro > Plus500 > Eightcap >

Exact figures may vary. NFTs are accessed through Delta, an NFT explorer app which is owned and operated by eToro.

What leverage trading options are there?

eToro offers leveraged trading options on all CFD trades. However, the amount of leverage you can get will depend on the asset you’re trading. Here is a breakdown of the amount of leverage available for each asset on the eToro trading platform:

Product eToro maximum leverage Plus500 maximum leverage Eightcap maximum leverage
Stock CFDs 1:5 1:5 5:1
ETF CFDs 1:5 1:5
Forex CFDs 1:30 1:30 500:1
Crypto CFDs 1:2 1:2 2:1
Index CFDs 1:10 1:20 20:1
Commodity CFDs 1:10 Up to 1:20 10:1
View more > eToro > Plus500 > Eightcap >

Trading with leverage is highly risky and can result in significant losses. We do not recommend that beginners trade with leverage.

What are the spreads?

The eToro platform offers floating spreads across all its account types, and makes its money from these spreads rather than commissions. This means that eToro’s profits are made from the difference between the price they charge for buying an asset (the bid price) and the price at which they will sell it to users (the ask price). 

Here’s a breakdown of the spreads you can expect with an eToro account (as these are all variable, they are subject to change over time and depending on market conditions):

Product eToro spreads Plus500 spreads Eightcap spreads
Stock CFDs 0.15% 0.10% From 1.2 pts
ETF CFDs 0.15% 0.10%
Forex CFDs From 1 pip 0.8 pips From 0.0pips
Crypto CFDs 1% 2% From 0.5%
Index CFDs From 0.75 points 0.20% From 1.2 USD
Commodity CFDs From 2 pips 0.50% From 0.12 USD
View all tradable assets > eToro > Plus500 > Eightcap >

eToro trade sizes and limits

The minimum trade on the eToro platform starts at $50 AUD for stocks, ETFs, and crypto, and the minimum investment goes up to $1,000 for most other assets. Maximum lot limits are not mentioned and vary according to the instrument traded. There are no restrictions on the number of trades you may place in a day. 

Product eToro minimum trade Plus500 minimum trade Eightcap minimum trade
Stock CFDs $10 $10 1 share
ETF CFDs $10 $10
Forex CFDs $33.34* 0.01 lots 0.01 lots
Crypto CFDs $10 $0.10 Variable
Index CFDs $1,000 $10 1 share
Commodity CFDs $1,000 $10 0.01 lots
View more > eToro > Plus500 > Eightcap >

*Using the maximum leverage available, 30:1, to make a trade worth $1,000.

Stocks

Which stocks are available on eToro in Australia?

eToro users can trade more than 3,000 stocks and ETFs (exchange traded funds), across 16 different countries. Here’s a list of the stocks available on the eToro trading platform from each of the most most popular exchanges around the world:

Country No. of stocks on eToro
United States 2905
United Kingdom 286
Hong Kong 135
Germany 117
France 100
Switzerland 77
Sweden 49
Spain 42
Italy 41
Netherlands 35
Norway 26
Denmark 23
Finland 20
Belgium 15
Portugal 3
Saudi Arabia 1
View more > eToro >

What are the fees for buying and selling stocks in Australia?

Spreads start from 0% on selected popular Australian and international stocks, while most stocks and exchange traded funds (ETFs are charged a 0.15% spread. ETFs may charge an additional management fee.

Crypto

What cryptocurrency pairs can be traded on eToro in Australia?

eToro users can trade more than 70 coins on eToro. Popular cryptos are available in pairs with the Australian Dollar (AUD), while the majority are available in pairs with the US Dollar. There are also 14 crypto crosses available for cryptocurrency trading, where you can exchange one coin for another.

Here is a selection of the top cryptocurrencies available on eToro.

Cryptocurrency Cryptocurrency Cryptocurrency
Bitcoin (BTC) Ethereum (ETH) Bitcoin Cash (BCH)
Doge on Pulsechain (DOGE) Litecoin (LTC) Ethereum Classic (ETC)
Stellar (XLM) Cardano (ADA) Polkadot (DOT)
Cronos (CRO) SKALE (SKL) Immutable (IMX)
IOTA (MIOTA) EOS (EOS) TRON (TRX)
Zcash (ZEC) BNB (BNB) Tezos (XTZ)
Maker (MKR) Compound (COMP) Chainlink (LINK)
Uniswap (UNI) yearn.finance (YFI) Dash (DASH)
Aave (AAVE) Filecoin (FIL) Algorand (ALGO)
Cosmos (ATOM) Decentraland (MANA) XRP (XRP)
View more > eToro >

eToro also offers a few crypto crosses, including BTC/ETH, BTC/XLM, and ETH/XLM.

What are the fees for buying and selling cryptocurrencies in Australia?

eToro charges a fixed 1% fee on all crypto transactions. The crypto trading fee is added to the market price when you open and close a trade.

Does eToro offer staking and rewards to Australian users?

Yes. An eToro account gives you access to automatic staking, where the rewards are paid into your account every month without you having to do anything.

However, it only pays staking rewards on a handful of cryptocurrencies – ADA, TRX, and ETH – and charges a fee for the service. If you’re a Bronze account user, eToro keeps 25% of the reward; it’s 15% for Silver, Gold, or Platinum members, and 10% for Diamond or Platinum+ members.

You can also store some cryptocurrencies in the eToro wallet, which is separate to the main crypto trading account. However, eToro customers who store crypto assets in the eToro wallet will not earn staking rewards on those assets.

Forex

What forex pairs can be traded on eToro?

There are 49 currencies available on the eToro platform, including all major forex pairs. A healthy number of minors and exotics can be traded as well. Here are some of the most popular currency pairs for forex trading on eToro:

Currency pair Currency pair Currency pair
USD/AUD USD/EUR USD/GBP
USD/NZD USD/CAD USD/JPY
USD/CHF EUR/AUD EUR/CHF
EUR/GBP EUR/JPY EUR/NZD
GBP/AUD GBP/CAD GBP/CHF
GBP/JPY GBP/NZD AUD/CAD
AUD/JPY AUD/NZD CAD/CHF
CAD/JPY CAD/NZD CHF/JPY
NZD/CHF NZD/JPY USD/HUF
USD/MXN USD/RUB USD/ZAR
View more > eToro >

What are the minimum spreads for trading forex?

eToro forex fees are charged through the spread, and spreads on forex trading start from 1 pip on major pairs, such as EUR/USD and USD/JPY. Most major or minor pairs start from 2 pips. Exotic pairs may be considerably higher.

Commodities

What commodities can be traded on eToro?

There are 26 commodities in total on eToro. The options include precious metals, energy, and agricultural commodities. Here are some of the commodities available:

Commodity Commodity Commodity
Gold Silver Natural gas
Oil Palladium Platinum
Sugar Euro oil Carbon emissions
Copper Corn Wheat
Zinc Cocoa Soybeans
Nickel Heating oil Live cattle
Aluminium Arabica coffee Cotton
Gasoline Lead Lean hogs
View more > eToro >

What are the minimum spreads for trading commodities?

The minimum spread is 2 pips. Oil and silver start from 5 pips, gold from 45 pips. The spreads are a lot higher for commodities with little trading volume. 

Australia deposits & withdrawals

What are the minimum & maximum deposits?

The limits on how you can deposit money vary depending on where you live. For eToro’s Australian customers, the minimum deposit is $50 AUD, while the maximum is $40,000. Here is a breakdown of the limits, depending on which payment method you use.

Please note that the available payment methods may vary depending on where you live.

Payment method Minimum deposit (USD)* Maximum deposit (USD)
eToro Money $100 $250,000
Debit/credit card $100 $40,000
Bank transfer $100 No limit
PayPal $100 $10,000
Neteller $100 $10,000
Skrill $100 $10,000
Rapid Transfer $100 $5,500
iDEAL $100 $50,000
Klarna/SoFort $100 $30,000
Trustly $100 $40,000
POLi $100 $10,000
Przelewy 24 $100 $11,500
Payoneer $100 $40,000
View more > eToro >

$100 is the minimum deposit in the US. Values vary in other regions. The minimum first time deposit in the UK is $50, with $10 the minimum for all subsequent deposits. In Germany, the Netherlands, Italy, and Spain, the minimum is $50. In France the minimum first time deposit is $100, followed by $50 for all subsequent deposits.

Credit card & PayPal are not available to UK customers.

What are the minimum & maximum withdrawals?

The minimum withdrawal amount on eToro is $30 AUD. There is no limit to the maximum withdrawal, you can withdraw as much as you hold in your account, minus any outstanding liabilities. Here are the minimum and maximum withdrawals buy payment method:

Payment method Minimum withdrawal Maximum withdrawal
eToro Money $30 No limit
Debit/credit card $30 No limit
Bank transfer $30 No limit
PayPal $30 No limit
Neteller $30 No limit
Skrill $30 No limit
Rapid Transfer $30 No limit
iDEAL $30 No limit
Klarna/SoFort $30 No limit
Trustly $30 No limit
POLi $30 No limit
Przelewy 24 $30 No limit
Payoneer $30 No limit
View more > eToro >

Credit cards & PayPal are not available to UK customers.

What are the deposit and withdrawal fees and speeds?

Each withdrawal costs a flat withdrawal fee of $5 AUD, regardless of payment method. Withdrawals to eToro Money accounts are instant, it may take longer to withdraw funds using other methods, even a bank transfer. Here are the eToro withdrawal fees for each payment method:

Payment method Withdrawal fee Withdrawal speed
eToro Money $5 Instant
Debit/credit card $5 Up to 10 business days
Bank transfer $5 Up to 10 business days
PayPal $5 Up to 2 business days
Neteller $5 Up to 2 business days
Skrill $5 Up to 2 business days
Rapid Transfer $5 Up to 2 business days
iDEAL $5 Up to 2 business days
Klarna/SoFort $5 Up to 2 business days
Trustly $5 Up to 2 business days
POLi $5 Up to 2 business days
Przelewy 24 $5 Up to 2 business days
Payoneer $5 Up to 3 business days
View more > eToro >

Credit card & PayPal are not available to UK customers.

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51% of retail CFD accounts lose money. Your capital is at risk.

Fees & costs in Australia

How do eToro fees work in Australia?

eToro’s fee structure includes a range of different charges, depending on the asset you trade. Here is a breakdown of all the fees you might encounter, including all trading fees and inactivity fees:

Fee eToro fees Plus500 fees Eightcap fees
Trading fees Yes, on certain assets No Yes
Inactivity fees Yes Yes No
Rollover/overnight fees Yes, on CFDs Yes Yes, on certain assets
Withdrawal fees Yes No Yes, for certain payment methods
Spreads Yes, on certain assets Yes Yes
Conversion fees Yes, for non-USD currencies Yes Yes, currency dependent
View more > eToro > Plus500 > Eightcap >

What are eToro’s trading fees in Australia?

eToro’s platform charges fees in the form of commissions and spreads, depending on the asset. Here is a breakdown of the charges for each investment product:

Asset eToro fees Plus500 fees Eightcap fees
Cryptocurrencies 1% From 2% Up to $3.5 RT
Commodities From 2 pips From 0.04% Up to $3.5 RT
Currencies From 1 pip From 0.8% Up to $3.5 RT
Indices From 0.75 pts From 0.7% Up to $3.5 RT
Stocks 0% commission From 0.08% Up to $3.5 RT
Stock CFDs 0.15%
ETF CFDs 0.15%
View more > eToro > Plus500 > Eightcap >

Platforms & usability
4.7

What devices can I use eToro on?

With a dedicated mobile app and user-friendly online platform, eToro offers several options for accessing the platform. eToro customers can log into and set up and use the stock trading platform on:

Device Browser/operating system
Web browser Google Chrome, Microsoft Edge, Mozilla Firefox, Safari
Mobile app iOS, Android
Tablet iOS, Android
View more > eToro >

eToro mobile app review

The eToro mobile app is one of the best trading apps available today and offers the same great user experience as the web platform. The mobile apps are free to download on Android or iOS devices.

The eToro app is secured by two-factor authentication (2FA) and you can further secure it using your biometric data and lock it behind a fingerprint, if your phone allows it.

You can manage your account on the go and take advantage of all of eToro’s best features from the app. Set up a virtual portfolio and practice trading, curate your own social feed and copy other trades, and take advantage of charting and analysis data to come up with your own trade ideas.

Web trading platform

The most important question any user has is: How easy is it to use eToro?

eToro is one of the easiest trading platforms to get to grips with. It has been designed to appeal to new users and people who may not have traded before. 

The web platform is intuitive and easy to use, with simple functions and a user-friendly layout. The platform has a very intuitive signup process and also offers a free demo account so new users can learn their way around without risking any of their money (we thoroughly recommend using this feature before starting to trade on eToro).

Switching to a demo account gives you instant access to 100,000 dollars of virtual currency

You can adapt the platform to your needs by curating a social feed, switching between real and virtual portfolio at the flick of a switch, and setting up a watchlist of assets you like. While it lacks a little depth of information at times, it makes for a super convenient social trading platform for the majority of users.

Desktop trading platform

eToro doesn’t offer a downloadable desktop platform. Nor is it compatible with third-party trading software, like MT4 or MT5, that you can download onto your desktop.

Key features

eToro Copy Portfolios

One of eToro’s flagship offerings is its ‘Copy Portfolios’ service. This is a social trading feature that lets you choose specific traders to follow. With this, you can track their trading performance over a weekly, monthly, or annual basis. You are also provided with useful information and statistics such as average holding time, trades per week, news feed comments, and a profile description.

There are a number of Australian-based investors, so you can copy people trading similar assets or with similar assets to you.

The feed on eToro, where you can easily copy other people’s trades

You can also follow accounts without copying and post comments or reactions on their social feeds. When copying an account using Copy Portfolios, you have full control over how much you are prepared to risk and the service is free. The overall feature ultimately creates a sense of community within the trading platform, as traders are encouraged to interact with each other often, and it’s a great tool for developing your own trading strategies by copying other investors.

To further encourage top investors to allow copy trading, it has launched a Popular Investors program whereby top investors will be paid some amount (fixed amount or a percentage of AUM depending on the plan) every month. This incentivises top investors to participate and boost the platform’s overall engagement.

eToro CopyPortfolio

CopyPortfolios are smart investment portfolios (grouped funds, basically). Unlike with Copy Portfolios, where you might have been following a specific trader, eToro’s smart portfolios let you invest either in an eToro trader’s portfolio or in a theme. Investing in themes is exactly what it sounds like. For instance, investing in the ‘Big Banks CopyPortfolio’ allows you to directly invest into a mix of assets including Bank of America, Citibank, HSBC, and other big banks.

In this way you can create an investment portfolio automatically, without needing to pick and choose your own stocks.

eToro Money Account

Separate and distinct from an eToro investment account, the Money Account offers the ability to use the eToro network much like a bank. An eToro money account is very similar to a checking account, in that it will hold your cash, convert it to other currencies, and you can both send and receive funds to any bank account (currently limited to UK bank accounts, so not available to Australian users).

eToro club members can also obtain a Visa debit card, so they can spend funds in this account anywhere, anytime.

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51% of retail CFD accounts lose money. Your capital is at risk.

Safety & reliability
4.8

Is eToro safe?

eToro is a safe broker to use; it complies with multiple regulatory regulations in different jurisdictions, keeps clients’ funds separate from its own, and has rules to protect client data. This means you won’t find many safer online brokers than eToro.

eToro bides by all Australian Securities & Investments Commission (ASIC) regulations, and offers additional protection through the use of Two-Factor Authentication (2FA) and similar security schemes.

The broker also keeps your funds in a different bank account. This is important as eToro cannot use clients’ funds to operate its business. Segregated funds also add safety to users in case the broker goes bust, as client’s money is protected in tier-1 banks. 

Apart from this, eToro carries investor insurance in EUR, AUD, and GBP denominated amounts should it ever go under and users need to be reimbursed.

Is eToro regulated in Australia?

Yes, eToro is regulated by ASIC along with several authorities across the world. Below are the licences and registrations it holds in each jurisdiction:

Region eToro regulators Plus500 regulators Eightcap regulators
Africa FSA
Asia
Australasia ASIC ASIC, FMA ASIC
Europe FCA, CySEC FCA, CySEC FCA, CySEC
International
North America FinCEN
South America
View more > eToro > Plus500 > Eightcap >

eToro customer support review

eToro provides a customer service portal on their website where you can raise a ticket which will be resolved by a member of the support team within 24 hours. They also provide a live chat feature on the website for more urgent requests.

Support type eToro customer support Plus500 customer support Eightcap customer support
Help Centre/FAQs Yes Yes Yes
Email Yes Yes Yes
Live chat Yes Yes Yes
WhatsApp Platinum, Platinum+, and Diamond members only Yes No
Telephone No No
View more > eToro > Plus500 > Eightcap >

What are the risks of using eToro?

With any investment, there is the risk of losing your money. eToro makes financial trading and investing more accessible but a service that is so easy to use can ‘gamify’ the process, so you must be careful to do your due diligence before making any trade. Some more potential risks are listed below:

  • Blindly copying other traders can lead to losses. Make sure to thoroughly research any eToro user you intend to copy from. Copy Portfolios shows you each trader’s annual return and includes additional information on their profile. Use that before you decide to copy anyone else.
  • Trading with leverage can be dangerous. To trade with leverage you must deposit money, but the broker can ask you to increase that deposit at any time. Be very careful when using leverage as if you are unable to supply extra deposit, or the asset experiences high volatility, you can have your positions automatically closed and lose all your money.
  • eToro has previously blocked trading on certain assets. During the GameStop trading mania at the start of 2021, eToro restricted trading on GME stocks to prevent any further buy orders. Being blocked from trading during periods of volatility can lead to financial losses.

Research & analysis tools
4.1

What trading tools are on offer?

For a broker whose primary demographic is new traders, eToro has a surprisingly large number of tools and charts for advanced traders. Here are some of the tools on offer:

Trading tool eToro tools Plus500 tools Eightcap tools
Charts Yes Yes Yes
News feeds Yes Yes Yes
Analyst recommendations Yes Yes Yes
Fundamental analysis No Yes Yes
Financial calendar Yes Yes Yes
MetaTrader integration No No Yes
View more > eToro > Plus500 > Eightcap >

Procharts

Procharts is a professional-grade technical analysis tool that allows you to perform your own analysis and track a range of indicators across different timeframes. Choose from 50+ technical indicators and plot your analysis on web or mobile.

News feeds

Each asset has its own news feed that posts the latest relevant updates from breaking news networks around the world. Each piece of news is assigned a rating – positive, negative, or neutral – so you can get an idea of what it might mean for the price at a glance.

Analyst recommendations

Each asset page provides the latest analyst recommendations, where applicable, alongside market research. You can see the latest analyst upgrades or downgrades for each stock, assess the latest crypto market research, or see the trending sentiment for currency pairs and commodities.

Financial calendar

eToro provides an economic calendar where you can find upcoming financial events, such as quarterly earnings reports or government data releases. You can look through consensus forecasts about the impact of each event and compare it to the actual results of previous releases.

Education & learning resources
4.8

What educational resources are on offer?

The eToro “Learn More” section offers many news articles, analysis features, and financial market guides. Here is a summary of the resources on offer:

Educational resource eToro resources Plus500 resources Eightcap resources
Demo/virtual account Yes Yes Yes
Video tutorials/webinars Yes Yes Yes
Walkthrough guides Yes Yes Yes
Copy trading Yes No No
Trading academy Yes Yes No
View more > eToro > Plus500 > Eightcap >

eToro Academy

The eToro Academy is a one-stop shop that contains a vast amount of educational material. There are video courses that explain the basics of how to invest, and how to use eToro. There are blogs and guides that dig into difficult concepts and explain them in simple terms.

While the majority of content is aimed at beginners, there are some videos and webinars available for advanced users as well. So even as you progress on your investing journey, there’s always something new to learn.

eToro demo account

The eToro virtual portfolio hands you 100,000 virtual dollars to trade with. You switch it on in the settings, and then trade through the same trading platform as real money accounts.

It’s one of the best demo accounts out there, one that gives you the best chance to practice and keep track of your performance to see what works – and what doesn’t.

eToro Copy Portfolios

Copy Portfolios is one of eToro’s big selling points and it can be used as a training tool as well. By following successful, experienced traders from your social feed, you can learn the strategies that make them tick.

eToro’s copy trading service allows you to start off by copying trades from other investors to your own account and then gradually develop your own trading strategies to take more control of your money.

eToro video review

eToro customer reviews

eToro has a largely excellent reputation and online customer reviews tend to back that up. On average it boasts a rating of between 4 and 5 stars, and the eToro app rates highly among the community as well.

Review source eToro rating Plus500 rating Eightcap rating
Trustpilot 4.4 4 4.3
Google Play Store 4.1 4.3 4.1
App Store 3.8 4.1 3.8
View more > eToro > Plus500 > Eightcap >

Our verdict

Overall, our eToro review reveals it’s one of the best CFD trading platforms in the business and one of the most innovative trading platforms overall. It offers 3,000+ assets, including all leading stocks and cryptocurrencies, and is one of the most user-friendly brokers you can find.

The crypto trading platform could offer a few more assets to trade, but what it lacks in this respect and in advanced features, it makes up with innovation by offering a comprehensive social trading and copy trading experience, where eToro users can follow trades from experienced pros. In addition, commission free trading on stocks is something most brokers do not offer. 

At the end of the day, if you are looking for a social trading broker, then this is the best platform for that. While the fees are a little higher than some other platforms, they’re far from unreasonable considering how well designed and respected the broker is. More experienced traders might consider looking for a service that caters more specifically to experts – but new investors and retail traders won’t find many better options than eToro.

Who is eToro suitable for?

Its best features are designed to appeal to new Australian users rather than old hands, though there are some more advanced tools on offer for experienced traders.

We recommend eToro as a great place to start your investing journey, because its demo account is the best in the business. As you progress you may want to look for a platform with more charting tools, or one that integrates with third party trading software like MetaTrader 4, but when you start out there are very few platforms out there that can hold a candle to the overall eToro package.

Is eToro good for beginners?

eToro is one of the best trading platforms for beginners. It’s welcoming to new users, with an interface and social trading ethos that’s designed to make investing as easy as possible. Features like a free demo account, where you can trade with virtual dollars, take the risk out of investing in the early stages.

When you do get stuck in for real, you can use the Copy Portfolios social trading app to copy other people’s investments and learn how they make their moves. There’s also a lot of variety, so you can try out different asset classes, from stocks to crypto to currencies, until you get comfortable with what works best for you.

Visit eToro & Create Account

51% of retail CFD accounts lose money. Your capital is at risk.

Our methodology

Helping people make better financial decisions is at the heart of our mission at Invezz. 

We test each broker to provide clear, accessible guidance on the service it offers and how it compares to the 63+ other trading platforms we review. Testing is carried out by our panel of industry experts, analysts, and active traders who sign up to the platform, conduct research, and score the service.

To supplement our practical testing and experience, we research the service to gather any further relevant information and provide context to help you decide whether the broker is right for your investing needs. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

The trading platform is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with the individual brand to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process

eToro-provided disclaimer

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more. Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

FAQs

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Sources & references
Risk disclaimer
James Knight
Editor of Education

James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.